Revenues at fund manager Brooks Macdonald increased by 10.7% to £61.9m, up from £55.9m last year, it has revealed in its half year results for the six months ending December 2021.
According to the fund house, revenues were driven by positive net flows and its acquisition of Lloyds Banking Group's Channel Islands funds and wealth management business.
Funds under management climbed to £17.3bn over the period, up 5.3% on the six months to 30 June, which closed at £16.5bn.
Net flows over the six months climbed to £326m, up from £367m on the previous six months, with annualised net flows of 4.7% over quarter two, up from 3.1% in quarter one.
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The firm's discretionary management business had net flows of 6.3%, driven by its investment solutions business and managed portfolio service, according to the firm.
It retained positive net flows through its bespoke portfolio service.
"This is a challenging time for investors and we are grateful for the trust they continue to place in us, as they have done for over 30 years," said Brooks Macdonald CEO Andrew Shepherd.
"Although the short-term macroeconomic outlook is highly uncertain, looking ahead we remain confident in our long-term prospects building on our ambitious organic and inorganic growth strategy, grounded in our purpose of realising ambitions and securing futures," he adds.
Underlying profits before tax increased 25.7% to £17.6m, up from £14m compared to the same period last year.
Earnings per share increased by 20.7% to 88.6p, up from 73.4p.The group raised its dividend by 13% to 26p, up from 23p.
